I’m always amazed at the general “market enthusiasm” most people have during the opening hours of trading.
Myself included ( as I’m a very early riser and absolutely love my quiet time in the “a.m”) I to awaken with a certain amount of excitement and enthusiasm anticipating what the day might bring, but always tempered with good dose of realism.
Ahh the psychology of it all.
“Hey look at that!” Markets are up, up , up here this morning! Complete and total bliss, with absolutely no vision of the “actual reality” that “No….actually markets are lower than they where yesterday, and yesterday is far lower than the same day a week ago!”
( now in robotic tone )
Does not compute. T.V says markets surging higher. Must call broker. Can’t get left behind. T.V says markets higher.
The “morning ramp” and the media blitz behind it goes down as one of the most “telegraphed human brainwashing” of our time, as it continues to play out – day, after day, after day.
When markets are lower than they where yesterday, and in turn much lower than they where a week ago…..isn’t that called a trend?
Oh ooops…..it’s a “down trend” so we best ignore that.
Let’s just eat our scones, sip our coffee and watch the funny people jumping around shouting “buy! buy! buy! “Hey look at that one honey! He’s wearing a funny tie!”